Quarterly Results: Ingersoll-Rand (India) Ltd
Bhagyashree Vivarekar / 21 Nov 2016
Ingersoll-Rand (India) Ltd is currently trading at Rs 672, down by 14.7 points. Net profit for the quarter rose 19.4% YoY to Rs 20 crore.
Technical View:
Ingersoll-Rand (India) Ltd is currently trading at Rs 672, down by 14.7 points or 2.14% from its previous close of Rs 686.7 on the BSE. The scrip opened at Rs 691.65 and touched a high and low of Rs 694.40 and Rs 666.10, respectively. The number of shares trades were 3292 (NSE+BSE) on the counter. The stock is currently trading above its 100 DMA.
Standalone Results Q2FY17:
Ingersoll-Rand India’ Q2FY17 standalone net revenues for the quarter fell 5.7% YoY to Rs 181.6 crore. This was primarily the impact of discontinuation of Environment Solutions segment.
The company's EBITDA for the period declined 7% YoY to Rs 15.2 crore with a 11 bps contraction in EBITDA margin to 8.3%. The major driver for this EBITDA margin contraction was the 10% YoY increase in employee benefit costs.
However, the reported net profit for the quarter rose 19.4% YoY to Rs 20 crore due to a 43% YoY surge in other income.
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